Moody Lynn & Lieberson LLC Takes Position in Celanese Corporation (CE)
Moody Lynn & Lieberson LLC bought a new stake in shares of Celanese Corporation (NYSE:CE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 52,410 shares of the basic materials company’s stock, valued at approximately $5,465,000.
Other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in Celanese Corporation by 240.3% in the 3rd quarter. Toronto Dominion Bank now owns 5,890 shares of the basic materials company’s stock worth $614,000 after acquiring an additional 4,159 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Celanese Corporation by 75.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 237,976 shares of the basic materials company’s stock worth $24,814,000 after acquiring an additional 102,630 shares in the last quarter. Candriam Luxembourg S.C.A. increased its holdings in Celanese Corporation by 63.8% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 14,302 shares of the basic materials company’s stock worth $1,491,000 after acquiring an additional 5,568 shares in the last quarter. Breton Hill Capital Ltd. increased its holdings in Celanese Corporation by 72.1% in the 3rd quarter. Breton Hill Capital Ltd. now owns 4,636 shares of the basic materials company’s stock worth $483,000 after acquiring an additional 1,942 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Celanese Corporation by 0.5% in the 3rd quarter. Swiss National Bank now owns 516,230 shares of the basic materials company’s stock worth $53,827,000 after acquiring an additional 2,700 shares in the last quarter. 97.90% of the stock is owned by hedge funds and other institutional investors.
In other Celanese Corporation news, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the sale, the chief financial officer now directly owns 60,086 shares in the company, valued at $6,289,802.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the sale, the director now owns 30,175 shares in the company, valued at $3,194,929. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
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Shares of Celanese Corporation (NYSE:CE) traded up $0.79 during mid-day trading on Monday, hitting $105.72. 805,700 shares of the stock traded hands, compared to its average volume of 895,971. Celanese Corporation has a 1 year low of $75.79 and a 1 year high of $109.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69. The firm has a market cap of $14,270.00, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31.
Celanese Corporation (NYSE:CE) last posted its earnings results on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.01. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Celanese Corporation’s revenue for the quarter was up 18.4% compared to the same quarter last year. analysts expect that Celanese Corporation will post 7.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 30th were given a $0.46 dividend. The ex-dividend date was Friday, October 27th. This represents a $1.84 dividend on an annualized basis and a yield of 1.74%. Celanese Corporation’s payout ratio is currently 31.62%.
Celanese Corporation announced that its Board of Directors has initiated a share buyback program on Monday, July 17th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 10.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts recently commented on CE shares. Nomura boosted their price target on shares of Celanese Corporation from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a report on Monday, July 17th. ValuEngine raised shares of Celanese Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. KeyCorp reissued a “buy” rating and issued a $106.00 price target on shares of Celanese Corporation in a report on Thursday, August 24th. Finally, UBS AG reissued a “neutral” rating and issued a $100.00 price target (up previously from $95.00) on shares of Celanese Corporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Celanese Corporation currently has an average rating of “Buy” and an average price target of $107.74.
Celanese Corporation Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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